Will Ethereum Reach an ATH in 2024?
— CryptoQuant.com (@cryptoquant_com) February 19, 2024
“Notably, the chart reveals a significant surge in open interest, coinciding with #Ethereum's upward price trend, reaching its peak levels since July 2022.” – By @Greatest_Trader
Link 👇https://t.co/GWHqi4Q4bA
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28% increase: Ethereum towards a new ATH in 2024?
Tue 20 Feb 2024 ▪
3
min of reading ▪ by
Getting informed
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This month, Ethereum has seen a 28% increase. Its price has even surpassed $2,900. With less than a month to go until the Dencun upgrade, the crypto community anticipates a major evolution. Added to this are other factors that could propel Ethereum to new heights.
The Ethereum Community is Already Anticipating the Dencun Upgrade
Scheduled for March 15, 2024, Dencun refers to the second phase of Ethereum’s transition to PoS. This upgrade will bring the “proto-danksharding” to the blockchain.
The Dencun upgrade is eagerly awaited by the Ethereum community. It will not only improve user experience but also pave the way for new possibilities. It will also strengthen Ethereum’s position as a leader in the crypto market.
ETH Price: The Bullish Trend is Confirmed
The price of Ethereum has jumped by 28% since the beginning of February, reaching $2,935 at the time of writing this article. This is the highest level since November 2021, when ETH reached its all-time high of $4,800.
Several market indicators confirm this bullish trend. Notably, the open interest on Ethereum futures contracts. It has reached $10.6 billion, the highest level since July 2022. Transaction volume also exceeded $130 billion in January following the approval of Bitcoin ETFs in the United States.
Despite its impressive performance, Ethereum still has room to grow. The Dencun upgrade is just one step towards Ethereum 2.0’s final vision, expected to be completed by 2025. Other improvements are planned, such as the integration of Layer 2 (L2) scaling networks, which move some transactions off the main blockchain, making them faster and cheaper.
In any case, Ethereum is well on its way to continue dominating the crypto market in 2024. According to some analysts, it might even surpass Bitcoin. Stay tuned…
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Je m'appelle Ariela et j'ai 31 ans. J'oeuvre dans le domaine de la rédaction web depuis maintenant 7 ans. Je n'ai découvert le trading et la cryptomonnaie que depuis quelques années. Mais c'est un univers qui m'intéresse beaucoup. Et les sujets traités au sein de la plateforme me permettent d'en apprendre davantage. Chanteuse à mes heures perdues, je cultive aussi une grande passion pour la musique et la lecture (et les animaux !)
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.